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Manchester United

Glazers release statement confirming they are exploring sale of Man Utd

23:50 SAST 2022/11/22
Avram Glazer Manchester United 2019
The Glazer family have announced that they are "exploring strategic alternatives" for the club, which includes Manchester United's potential sale.

WHAT HAPPENED? After initial reports had suggested that the Glazers could be open to a sale, United released a statement on their official website confirming their position. The announcement explained that any move would be part of an initiative to enhance the club's future prospects, both in an infrastructural and commercial sense, with the Glazers stating they are committed to the "best interests" of the club's fans, shareholders and stakeholders.

THE BIGGER PICTURE: The statement is a seminal moment after 17 years of controversial ownership. United's fan base have taken part in various protests, due to the Glazers' lack of investment and heavy involvement in the European Super League debacle. The club remain without a Premier League trophy since Sir Alex Ferguson's retirement back in 2013.

AND WHAT'S MORE: The statement continues that Raine Group - who helped conclude the sale of Chelsea from Russian oligarch Roman Abramovich earlier this year - are acting as the Glazers' exclusive financial advisor, while Latham & Watkins LLP will be their legal counsel.

WHAT THEY SAID: "The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers," the Glazers said in the statement.As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives.

"We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”

WHAT NEXT FOR UNITED? While any potential sale is likely to take time, previous potential suitors will be on high alert to take over. Billionaire United fan Sir Jim Ratcliffe has been just one of the names linked with the club in the past.